Browse > Home / Womens World / What You Need To Do To Find An Affordable Term Life Quote

What You Need To Do To Find An Affordable Term Life Quote

March 29, 2009

Since there are a whole range of different options in term life insurance, finding an affordable term quote is a rather easy task. However, several factors determine whether you will get a good quote or not. We are examining these factors here…

Point #1: Do you smoke – If you are a smoker, then you should be prepared to pay a higher premium every year. Insurance companies realize the adverse effects smoking has on your health as it can lead to many illnesses and charges you a higher premium. The deal you are offered will be much better if you do not smoke.

Point #2: What is your age? – This factor is one of the most crucial ones that determine what your initial and renewal term coverage would be. A young person needs to pay a lesser premium, and thus, you should be starting your policy as early as possible. At the time for the maturity and renewal of your policy, you have grown much older, and would thus need to pay up more.

Factor #3 Your weight – Losing weight is a must for an obese person (who is subject to many potential health problems), and if the person is able to do this, he or she is sure to receive an affordable term quote. An insurance providing company faces a higher risk when it covers an obese person (who is likely to die earlier), and hence, it demands a higher premium in these cases. Obese people are almost put in the ‘high risk’ category.

Fourthly, What is your profession – You are likely to end up paying more as your premium if you are in a profession that according to the life insurance company is more dangerous than others. According to them, here are the professions that are risky…

• Airline pilots
• Those who are engaged in timber cutting
• Those who are involved in the construction service
• Those who drive trucks
• Detectives and those who are in the police service
• Fire service people
• Professional Carpenters

Factor #5: Are you healthy? – You will need to inform the life insurance company about the present status of your health. Hence, you might need a medical test, and the results of this has to be passed on. Those who have a good health almost always are offered better rates.

Sixth factor – Is there a family history of any hereditary illness? – If your family has a hereditary illness, you might fall a prey to it, and so the insurance provider will want to know about this. In case you are asked about the medical history of your family (as is often the case), you must answer to the maximum extent of your knowledge. Your policy might be of no value if you suppress such data deliberately. You can expect to receive an affordable term quote if you have family members who have lived for many years.

Related Articles:

  • No Related Articles

Comments

Got something to say?

You must be logged in to post a comment.